19 Sep The streaming music industry by Joseph Ashford
Music streaming has revolutionised the industry and changed the way we listen to music. It is an aspect of music that many record labels have not come on board with. Joe Ashford recognises the importance of streaming, and we have covered it in this article.
Why streaming is the future?
It is no secret that streaming is the future of the music industry. Artists can get their music to their audience quicker than ever before. Not to mention, if you are an artist, you have the opportunity to reach bigger audiences with streaming services.
The growth of the industry looks to keep soaring as the trend with many free and subscription services achieving great popularity with users. Forbes reported in a 2016 article that Spotify earned over $1.3 billion in streaming alone. As the trend for physical ownership for music has dropped, streaming is set to keep rising.
The popularity of streaming
Streaming has vastly overtaken all forms of music. At Joe Ashford, we have analysed the popularity of streaming and list some of the reasons behind the success of streaming:
- Streaming doesn’t take up space like records or CD’s
- Wide choice of artists to suit every mood
- Suggested playlists to expose listener to new music
- Affordable and free options with most services
- The music of some artists is only available via streaming
- Analyses listening habits and creates playlists tailored to habits
Why record labels should use streaming?
Some record labels are averse to using streaming services despite the huge benefits and the fact that many users only use this service. Firstly, it is important to consider the huge audience which is an untapped potential for any record label. If marketed and used properly, these listeners could become paying customers if they love the music.
Streaming enables record labels to widen the exposure of their artists particularly if the public are not familiar with said artists. If you are an independent, the exposure could be as effective as a dedicated marketing plan. It is also useful for exposing new acts that have not hit the big time.
Talent is an investment
Joe Ashford believes that talent should be nurtured to achieve the full potential. It is this approach that underlines his approach to the music business. An outside voice can help sharpen an act and make the talent see the bigger picture while bringing in business-friendly expertise.
Marketing in music
Like any business idea, marketing is the key to success, and there is no difference even in the music industry. Joe Ashford years of experience in business and has been the CEO of many successful business companies in the UK. He uses his experience, and savvy business know-how to market acts in all musical genres.
Music industry and its future
Joe Ashford believes that the music industry has still got lots of life left in it. Music is important for many reasons such as personal enjoyment and self-expression. The future for the music business is to keep one step ahead of technologies and incorporate them into their strategies. Offering users exclusive such as unreleased songs via paid services is one way record labels could get users to pay for services.